OPEC+ Weighs Further Steps To Support Market, Sees Weaker Compliance
OPEC and its allies discussed weaker compliance with pledged oil output cuts on Monday and weighed further action to support…
Day: November 16, 2020
Nigeria Plans To Start A Bridge Bank To Aid Struggling Lenders
Nigeria plans to start a fund that will operate a bridge bank to nurse struggling lenders back to health. The…
Nigerian Investors Tipped To Ignore Signs Stocks Are Overheating
Technical charts studied by some analysts to predict market moves suggest the world-beating rally in Nigerian stocks is overdone. Yet,…
UK Sets 2022 Date For New Financial Regulation Regimes
British authorities said on Monday they planned to implement new financial regulation regimes on Jan. 1 2022. They comprise the…
Nigeria: SEPLAT, NNPC To Build Gas Plant In Imo
SEPLAT Group has partnered with the Nigerian National Petroleum Corporation to site a multi-billion-naira gas plant at Asaa, Ohaji-Egbema Local…
Economist Canvasses Price War Against Imported Rice
An economist, Prof. AbdulGafar ljaya, has called for a price war against imported rice. Ijaya, who teaches economics at the…
African Leaders Mount Effort To Mediate Ethiopia Conflict
African leaders attempted Monday to kickstart some kind of mediation in Ethiopia’s escalating internal conflict, two days after rocket strikes…
Nigerian Inflation Rate Rises On Surging Food Costs
Nigerian inflation quickened for a 14th straight month in October on rising food prices caused by border closures, dollar restrictions…
Nigeria: Reps Summon NNPC Boss, Emefiele, Allege N3.2tn, Others Unremitted
The House of Representatives has summoned the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari; and the…
Nigeria: Kaduna Dry Port Woos Chamber Of Commerce, MAN, Others
The Kaduna Inland Dry Port has begun to liaise with various segments of the organised private sector within its area…
Finance Bill 2021: Stakeholders Engagement Begins
The Federal Ministry of Finance, Budget and National Planning has released the draft version of the 2020 Finance Bill (the…
Analysts Allay Fears Of Nigeria’s Default As Eurobond Investors Fret
Analysts have allayed concerns about the likelihood of Nigeria defaulting on its Eurobond payments to investors even as investors in…
Nigeria’s Inflation Hits 14.23% — A 30-Month High
Nigeria’s inflation rate has climbed to a 30-month high, as it rose further to 14.23 percent in October, the latest…
$500m Chinese Debt Sparks Confusion In Airport Concession
Federal Government’s plan to concession airports has run into difficulties over an existing debt and pact with China to build…
Oil Tanker ‘Hijacking’: Probe Remains Ongoing, Say Police
A MARITIME ‘hijacking’ probe is ongoing. Seven Nigerian men were previously bailed for allegedly hijacking the oil tanker Nave Andromeda…
Dollar Steadies Amid Rising Global Coronavirus Cases
The dollar was hemmed into a narrow range on Monday, as traders weighed the economic impact from a resurgence of…
Gold And Monetary Policy
Today, Monday, November 16, South-South governors are scheduled to meet over the subject of Zamfara gold. Not too long ago,…
Oil Climbs Higher On China, Japan Rebound, Hopes Of OPEC+ Supply Curb
Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output…
CBN’s LDR Policy Buoys Lending To Real Sector
The Central Bank of Nigeria’s Loan to-Deposit-Ratio (LDR) initiative has through its 18 months of existence, largely accomplished its objective…
Investment Market Trembles As Buhari Signs BOFIA 2020
With the signing of the Banking and Other Financial Institutions Act (BOFIA) (amendment) Bill 2020, the reality of a tougher…
Investors Stake N59bn On Shares As Market Extends Rally
Equities investors will for a long time remember the performance of the market last week as it gained N2.1 trillion…
Naira Exchanges At N470/$ In Parallel Market
The naira has continued to fall in the parallel market as it exchanged at N470 to a dollar at the…
China’s Factory Output Beats Forecasts As Asia Shakes Off COVID Slump
China’s factory output rose faster-than-expected in October and retail sales continued to recover albeit at a slower-than-forecast pace, as the…
‘AfCFTA Will Open Up Neighbouring Markets For Nigeria’
The ratification of the African Continental Free Trade Agreement (AfCFTA) last week by the Federal Government is expected to have…
‘Nigeria May Face $20bn Loss In Export Revenue’
Nigeria and four other oil producers on the African continent could each be facing $20billion or more in lost export…
Canadian Dollar Posts Weekly Loss On ‘Bleakening’ Global Outlook
The Canadian dollar steadied against its U.S. counterpart on Friday, holding near its weakest level in more than a week,…
UK Expected To Ban Sale Of New Petrol And Diesel Cars From 2030
Boris Johnson is understood to be planning to ban the sale of new petrol and diesel cars within a decade,…
China Is Rapidly Expanding Its Oil Resources In Africa
China is making a major power play to expand its global energy influence. The United States has long played an…
Central Bank Digital Currencies Are Dead In The Water
CBDCs won’t fundamentally be changing anything — central banks still want to control your wealth and your money. Mark my…
How Airports Re-Opened For International Flights, By FAAN
The Federal Airports Authority of Nigeria (FAAN) at the weekend offered clarifications on the criteria adopted by the Federal Government…